With blockchain being touted as the next big thing, big business and American companies are jumping on board and even spearheading blockchain based projects that seemingly have incredible potential.
33 Leading Companies Exploring Blockchain
- 1 33 Leading Companies Exploring Blockchain
- 1.1 AMEX
- 1.2 Banco Bilbao Vizcaya Argentaria, S.A.
- 1.3 Mizuho Financial Group
- 1.4 BHP Billiton Limited
- 1.5 Oracle Corporation
- 1.6 Tencent Holdings Ltd
- 1.7 AIA Group
- 1.8 Alibaba Group Holding Ltd.
- 1.9 MetLife, Inc.
- 1.10 Facebook, Inc.
- 1.11 Prudential Financial
- 1.12 Walt Disney Company
- 1.13 International Business Machines (IBM)
- 1.14 Renault, GM, Ford and BMW
- 1.15 Prudential Insurance
- 1.16 Intesa Sanpaolo
- 1.17 Goldman Sachs Group Inc.
- 1.18 ING Group
- 1.19 Amazon.com Inc.
- 1.20 Siemens AG
- 1.21 Morgan Stanley
- 1.22 Intel
- 1.23 Nestle
- 1.24 Pfizer
- 1.25 Comcast
- 1.26 AXA Group
- 1.27 Daimler AG
- 1.28 Walmart
- 1.29 Alphabet
- 1.30 Microsoft Corporation
- 1.31 Samsung
- 1.32 Toyota Motor Corporation
- 1.33 Apple Incorporated
In this article, we’ll be highlighting the top companies –most of them in the Global 2,000 list- that have their own projects or have partnered with others to create their own blockchain products and services.
One the world’s leading financial and payment services companies, the American Express Company is making a big blockchain play in the rewards sector.
Its reward based blockchain allows merchants offer Amex rewards through their apps and sites, instead of the company’s traditional card channels. This means that these rewards can reach a lot more potential customers and help those merchants generate more revenue.
Even more importantly, this blockchain will allow AMEX access a treasure trove of previously hard to access data –the SKU-level data type- thus enabling them to provide even more targeted offers.
Banco Bilbao Vizcaya Argentaria, S.A.
Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) recently closed a deal that involved the use of both ethereum and Hyperledger Fabric. This deal is considered the first global corporate loan transaction using blockchain and distributed ledger technology.
The entire transaction process from start to finish was conducted on the platform, thus showing the potential of blockchain to further streamline financial services and its many processes.
This single project has further positioned BBVA as an innovative, forward thinking company whose approach to the use of technology will help aid its customer targeted solutions.
Mizuho Financial Group
One of the world’s largest banks, Japanese based Mizuho is making its own foray into the blockchain scene. The firm’s CEO has been an ardent advocate of blockchain technology and believes that it is potentially capable of disrupting the entire financial industry.
To this end therefore, the company has initiated some blockchain projects in trade, record keeping and cryptocurrency. Recently, it teamed up with Hitachi to implement a blockchain powered supply platform aimed at easing logistics and supply management.
BHP Billiton Limited
Known as the world’s largest mining company, BHP Billiton is working on a blockchain project for its supply chain management as well as one that will help with tracking and recording data throughout the mining process.
More specifically, they intend to record movements of wellbore rock and fluid samples in a bid to improve the security of whatever realtime data is produced during the process.
The firm hopes to do this through ethereum’s platform. The goal when achieved, is to help improve the company’s internal processes and enhance its mining operations.
One of the world’s leading tech companies, Oracle has created an impressive blockchain based project.
This enterprise-grade blockchain cloud service is designed to help customers increase their business process speeds, generate even more revenue, open up new revenue streams, and improve ease of business practices. This solution caters to supply chain, enterprise SaaS and ERPs.
The company is also a member of the Hyperledger Fabric Company and is poised to launch its own blockchain-as-a-service platform, with apps on distributed ledger technology. So, if you’re interested an enterprise-grade blockchain cloud service, you might want to check out Oracle’s.
Tencent Holdings Ltd
One of Asia’s biggest tech companies, Tencent has put plans in motion to collaborate with the Shenzhen National Taxation Bureau to create blockchain based taxation solutions using distributed ledger technology.
They also intend to create ride sharing blockchain based solutions. With this taxation solutions, taxation invoicing will be easier to issue and track, thus drastically lowering the odds of tax evasion and delayed tax payments.
The company currently has a blockchain-as-a-service (BaaS) product called TrustSQL to their clients who can then use the service to build their own blockchain solutions.
They also recently partnered with one of China’s cities to test a service that allows local residents track their medications. Even more interesting is their announcement that they will be launching a blockchain based game to take on all the other blockchain based games currently available.
It’s clear that they intend to continue expanding into the blockchain space, creating even more products and services in the process. If they succeed, they just might go on to become china’s leading blockchain company.
This company liaised with the Hyperledger Fabric to create its blockchain powered bancassurance platform.
Apart from this, it also has its own blockchain accelerating program that’s completely designed to identify new potentially disruptive blockchain startups, thus giving them the opportunity to get in on the ground floor or potentially groundbreaking technology.
With this new blockchain solution, they have been able to dramatically improve their customer experience as well as enhance their business operations.
Alibaba Group Holding Ltd.
Jack Ma and Alibaba are incredibly bullish on blockchain. In fact, the company filed 43 patent applications in 2017 alone. That’s over 10 percent of the 406 patents filed globally in the same year.
The company has multiple blockchain projects, some in the pipeline, and a few that are actually active. The company is in everything from healthcare, to counterfeit food elimination and tracking, food security, to finance -Ant Financial Blockchain 2.0, and a few other projects.
This is not surprising seeing as Jack ma, the company’s founder states that he believes in the technology powering cryptocurrencies –blockchain. As far as he’s concerned, the blockchain is an incredibly powerful platform that can transform the world when skillfully deployed to all key industry areas.
One of America’s biggest insurance firms, MetLife went into partnership with IBM and Majesco to establish a blockchain platform aimed at streamlining insurance claims, policies and coverage to aid data driven transactions.
The company believes that using the blockchain can do wonders for lower insurance premiums, better customer experience, and lower operating costs for insurance providers.
Facebook intends to actively use blockchain for some of its current and future projects. A May 2018 report suggests that the company is keen on investing in blockchain, with the company already setting up a team for its blockchain projects.
To make this a reality, Mark Zuckerberg has put some of his best workers including David Marcus, Head of Messenger, Instagram’s VP of Engineering, James Everingham, and Instagram’s VP of Product, Kevin Weil in charge of the new unit.
While there’s no blockchain product or project yet, it’s clear that the company is looking to get in on blockchain and develop their own products.
While Prudential Financial isn’t directly working on blockchain projects, they are doing so behind the scenes.
This is not surprising seeing as the company believes in the potential of blockchain to help improve record keeping, thus enhancing or further improving on the current model available.
According to Roshina Nandra, vice president of Prudential’s retirement innovation lab,
“We’re very excited about the potential blockchain has for us as a record-keeping system. It’s definitely a more secure record-keeping system than we already have in the industry,”.
Walt Disney Company
Chances are you’re thinking what does an entertainment company want with blockchain? Well, Walt Disney is a forward thinking company and they like to keep up with the pace of innovation.
To this end, they launched a blockchain project named Dragonchain in the hopes that it would better ethereum and bitcoin when it comes to data privacy. However, the company decided to drop the project, making it open source in 2016.
Some developers who were familiar with the project have now taken it up and are working on building it out and managing the protocol’s upkeep. The company’s name is Dragonchain, Inc, and they recently completed a $13.7 million ICO.
International Business Machines (IBM)
One of the world’s largest tech companies, IBM has been making a lot of blockchain plays in the last few years.
From making the popular Hyperledger Fabric open source to working with the Saudi Arabian government to implement blockchain, the company has built a reputation for being about the world’s leading blockchain promoting company.
In fact, it is currently working on about 400 blockchain projects for 63 clients, including Walmart, HSBC and Visa. Other notable projects include the Blockchain Safety Alliance initiative, and the IBM Blockchain Platform among others.
Renault, GM, Ford and BMW
Four of the world’s chief automakers recently formed a consortium for blockchain projects. Named the Mobility Open Blockchain Initiative (MOBI), this is the biggest blockchain consortium established in a bid to bring blockchain solutions to cars and the automobile industry. The most notable of these solutions is the Crypto Car Wallet. According to the Coindesk,
“Rather than push a particular type of distributed ledger, MOBI aims to create common standards and APIs to enable payments and data-sharing between cars – all in service of driving forward a new digital mobility ecosystem, from ride-sharing to self-driving vehicles and everything in between.”
In conjunction with Singapore based telecom firm Starhub, this UK based company is launching a blockchain based trade platform for small and medium sized businesses called Fasttrack Trade (FTT).
Announced in November 2017, the platform will serve as a meeting point between SMEs and distributors, help with the faster execution of transactions and acquisition of insurance coverage.
While the platform’s still still being developed by Cites Gestion, a fintech startup, the project promises to deliver even more growth opportunities for all the parties involved.
This huge Italian bank is looking to improve its recordkeeping by trialing a blockchain based data keeping and tracking solution. The sole purpose of this project is to see how blockchain can help data validation and transaction timestamps.
The project’s bitcoin based service is designed to create a publicly available record trail in the form of notarized transactions.
According to the bank’s Information Security Officer, Carlo Brezigia,
“Relevant data has been hashed to produce a short unique identifier – a digest – equivalent to its digital fingerprint. This fingerprint has been associated to a blockchain transaction and hence registered on the blockchain: the blockchain immutability provides robust non-refutable timestamping that will always prove without any doubt the existence of that data in that specific status at that precise moment in time.”
It will be interesting to see what the company does with its public and eventually, private blockchain projects in the future.
Goldman Sachs Group Inc.
Where the financial giant once had a wait-and-see approach to blockchain, it is now open to the prospect of exploring the tech. As a result the company has committed to opening a trading desk for bitcoin futures contracts.
This is coming in the wake of Circle’s Poloniex purchase and Tradeshift’s successful $25 million funding round. Both companies are backed by Goldman Sachs.
Circle hopes to transform Poloniex into a leading cryptocurrency exchange platform that generates revenues similar to Binance and Coinbase. While Tradeshift hopes to aggressively push artificial intelligence and blockchain development.
This Netherlands based banking firm is stealthily becoming one of blockchain’s biggest innovators, with its area of focus being blockchain cryptography.
To this end, they recently developed a possible viable solution to a major problem that bankers have been dealing with for a long time –that’s the problem of having to manually verify transactions using secret codes.
ING is trying to fix this by creating a solution that allows the use of the secret without necessarily revealing it. Think of it in terms of not actually entering your ATM card pin to withdraw funds or sharing ledgers with other banks without revealing a lot of information.
They’re doing this through something called zero-knowledge range proofs, which can prove that a number is within a certain range without revealing what the exact number is. This is an incredibly innovative solution, and one that other banking and financial institutions sorely need.
Currently in the top tech companies in the world, Amazon just partnered with Consensys –an ethereum startup- as well as offers cloud integrations for blockchain applications. They have also started offering blockchain-as-a-service (BaaS) to interested clients.
These have products like the AWS Blockchain Templates for Ethereum and Hyperledger fabric, which helps clients quickly deploy and secure blockchain networks.
These automate the creation and configuration of blockchain networks on the platform, making it easy for just about anyone to set up and build their own blockchain solutions.
Siemens’ blockchain foray is limited to investing in energy based blockchain startups for now. Their recent investment in blockchain-based smart grid builder startup LO3, is the only known effort.
LO3 is a blockchain startup that’s designed to connect people with solar generated energy and power to sell and those looking to buy energy. LO3 is currently leading the pack when it comes to distributed energy supply system from renewable resources.
While it’s already clearing bitcoin futures for clients, the company is also carrying out an awareness campaign on the dangers of bitcoin mining, and how it affects the environment.
This is great considering that most people typically never concern themselves with the downsides of bitcoin or other cryptocurrency mining activities. On the other hand, it is reported that the company invested $2 billion into cryptocurrencies in 2017 alone.
Morgan Stanley clearly believes in blockchain’s potential and believes that smart contracts will become more common in 2018 and beyond, as well as more complex blockchain apps in 2020.
Tech giant Intel is focusing on the interfacing between blockchain and hardware. They are also exploring the role of blockchain in digital rights management.
To that effect, they have recently filed a patent application that’s focused on using blockchain to download digital image rights. According to the patent filed,
“As described, the proposed platform uses several types of software to automatically assess copyright policy settings for each image, even if the picture was taken from external sources. Then, it creates a unique identity for both the original content and any modified versions. The patent calls these identities “shadow images.”
The patent isn’t just limited to still images, it also applies to moving images and other content types.
One of the FMCG companies in the world, Nestle is exploring the role of blockchain in supply chain management and logistics. They are working with IBM to develop blockchain based solutions that can help completely eliminate brokers and middlemen from the supply and distribution chain.
This partnership that includes Walmart and Unilever is particularly aimed at eliminating or drastically reducing the abundance of food contaminants –a process that’s further enhanced by the distribution network that involves a lot of middlemen.
As with many other big consumer based brands, Pfizer is looking to explore the possibilities of blockchain in enhancing supply chain and logistics processes. Supply chain management has become increasingly bloated and lacking in structure. Smart businesses like Pfizer are beginning to turn to the blockchain in the bid to create a seamless process that’s highly efficient.
While Comcast isn’t directly involved in blockchain projects, it is backing companies like Boldstart ventures that do so.
This company is focused on investing in enterprise blockchain startups, creating acceleration programs and bootcamps, getting them exposure and ensuring their projects are legit. More recently, the VC arm of the company invested over $3 million in Blockdaemon.
This company creates software that interacts with multiple blockchains, serving as a central point of sorts, and ensuring communications between multiple blockchains.
This France based insurance company has dabbled into blockchain through the launch of its AXA Fizzy ethereum based smart contract platform. The smart contracts are used for instantly approving payments for flight insurance.
In fact, AXA is the first major insurance firm to execute and approve insurance using blockchain. Flight passengers whose flights get delayed can be easily and instantly reimbursed by the blockchain platform.
AXA Fizzy eliminates every friction in the insurance claims process, and pays policy holders seamlessly and effortlessly. This means no waiting for days to have your insurance claims paid or tedious filing of claims.
The parent company of the Mercedes-Benz brand, Daimler AG is looking to create its own cryptocurrency using blockchain. This is coming on the heels of its successful issuing of a €100 million corporate bond on the ethereum platform as part of a blockchain project.
This was done in conjunction with Landesbank Baden-Württemberg (LBBW), Germany's largest wholesale banking group.
According to Bodo Uebber, Member of the Board of Management Finance & Controlling/Daimler Financial Services,
“This pilot project is our first step in testing the wide variety of possibilities for using blockchain technology and assessing this technology’s potential for future transactions and financial processes.”.
Daimler and LBBW are also looking into using blockchain to create syndicated loans, while tracking all those loans using distributed ledger.
One of America’s largest retailers, Walmart is ready to deploy blockchain technology for its live food business. According to Frank Yiannas, Walmart Vice President of Food Safety and Health,
“Blockchain was able to shorten the time it took to track produce from six days to two seconds. Walmart is getting suppliers to put food on a Blockchain, which it says will reduce waste, as well as improve contamination management and transparency.”.
The company has also filed a patent for its blockchain based “Smart Package” which is designed to track package location, contents, weather conditions and so much more.
Google’s parent company Alphabet, has also joined the blockchain race through its range of blockchain projects. The company is working on its own blockchain technology and developing its own distributed digital ledger, which will reside on the cloud.
Users will be able to post and verify transactions using this ledger. The search giant’s parent company is poised to use this for its own businesses and eventually make it available to the public if and when it becomes available.
Microsoft was first on scene and probably one of the first companies to have a viable blockchain product available for sale. It’s currently doing this through Microsoft Azure.
Some of its blockchain products include the recently released Azure Blockchain Workbench, Ethereum on Azure, Corda, and Hyperledger Fabric on Azure. The company is continuing its blockchain projects and working on upgrading its current products.
The South Korean based electronics giant’s blockchain play is centered on solving global supply chain problems.
It has created the Nexledger platform for improving seamless product tracking shipments around the globe. This distributed ledger platform will most likely, be capable of cutting logistics costs by as much as 20 percent.
Toyota Motor Corporation
The japan based automaker is both a key partner of the Mobility Open Blockchain Initiative (MOBI), a blockchain mobility consortium, and an ardent blockchain advocate. In fact, the company is currently working on possible payment solutions between self-driving vehicles, using blockchain to power the process.
The idea is that when self-driving vehicles pick up and drop passengers, they should be able to seamlessly bill them without requesting for further information apart from their names. The company’s future focus is on automated and autonomous future for their vehicles.
In keeping with other tech giants, Apple is also looking into blockchain technology. More specifically, they are looking to timestamp data. This is evident from their recent filing of a patent for a blockchain tech that will do exactly that. This is in a bid to stop and prevent the malicious tampering of realtime and gps data.